📅 Economic Releases
| Time (ET) | Event | Impact |
|---|---|---|
| 8:15 AM | ADP Non-Farm Employment Change | Medium |
| 9:30 AM | FOMC Member Musalem Speaks | Low |
| 10:30 AM | Crude Oil Inventories | Low |
| 1:00 PM | FOMC Member Goolsbee Speaks | Low |
📊 Earnings Today
📈 Premarket Gainers & Losers
🎯 Gamma Flip Point — $SPX (S&P 500 Index)
$SPX gamma flip point is 7215.49 |
🔥 Hot Market News
| Bond Traders Increase Bets on Federal Reserve Rate Hike Bond traders are betting on a greater than 50% chance of a Federal Reserve interest rate hike by next April, with rising odds ahead of the year's end, amid an increasingly divided outlook on interest rates and Kevin Warsh set to become Fed Chair.
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| Indian Small-Caps rally 20% from March lows to near bull market India's Nifty Smallcap 250 Index rose 1% and is nearing a bull market, driven by renewed interest from retail investors after a 20% rebound from March lows. This comeback is supported by favorable political developments and increased earnings forecasts for small companies.
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| Oil Falls as Trump Announces 'Great Progress' in Ending War with Iran Oil prices declined for a second day after US President Donald Trump announced significant progress in peace talks with Iran, with Brent crude nearing $108 a barrel and West Texas Intermediate around $100. Despite the positive developments, US naval operations in the Strait of Hormuz are paused but a blockade continues, and disruptions have left over 1,550 commercial vessels stranded in the Persian Gulf.
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| Sterling Infrastructure spikes as management hikes profit guidance by 42% on data center building boom Sterling Infrastructure- (STRL) is going parabolic on Tuesday after delivering blowout Q1 results that prompted management to significantly revise up its full-year view.
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| Saudi Arabia Cuts Oil Price for Asia Amid Ongoing Middle East Conflict Saudi Arabia has reduced the price of its Arab Light crude oil for Asian markets by $4 a barrel for June, keeping it near record highs despite the Middle East conflict that has disrupted supply routes. This reduction was less than the $8 drop anticipated by market analysts, as oil exports continue to be affected by the closure of the Strait of Hormuz.
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| Fresh AI Disruption Selloff Hits Thomson Reuters Despite Strong Results Thomson Reuters shares fell by up to 5.1% due to the impact of a new AI tool announcement by Anthropic PBC, despite the company reporting first-quarter earnings that surpassed expectations. The stock's decline highlights investor concerns about AI models affecting sales, even as Thomson Reuters affirmed its revenue guidance and plans to launch an updated version of its CoCounsel AI tool.
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💱 Forex & Commodities
| Yen rallies to build on gains spurred by recent intervention The yen surged to its strongest level in over two months, prompting speculation of another Japanese government intervention after a recent action to support the currency. Analysts suggest the Bank of Japan may have spent around $34.5 billion during this intervention.
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| Soy Oil Falls from Three-Year High After Trump's Hormuz Pause Soy oil prices decreased from their three-year high following President Trump's decision to pause actions in the Strait of Hormuz, impacting market dynamics and causing a shift in commodity prices.
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| Asian currencies rally on AI enthusiasm, US-Iran peace hopes Asian currencies, led by the South Korean won, are rebounding due to increased optimism in the AI sector and potential US-Iran peace talks after President Trump suspended military escort plans. The rebound alleviates some pressure following recent declines caused by oil price volatility.
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| Middle East Conflict Reshapes Metal Trade Landscape, China Sees Historic Window for Aluminum and Copper Exports The Middle East conflict has disrupted global metal supply chains, creating the most favorable external environment in years for Chinese aluminum and copper exporters.
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| Indonesia Tightens US Dollar Purchase Rules to Support Rupiah Indonesia has reduced the limit for cash purchases of foreign currency without supporting documents from US$50,000 to US$25,000 in an effort to stabilize the weakening rupiah, which reached a record low of 17,443 per US dollar. The central bank is implementing stricter regulations to curb speculative activities and support the currency amid regional pressures caused by rising oil prices.
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🪙 Crypto News
| Strategy Considers Selling Bitcoin to Meet Dividend Commitments Executives at Strategy have announced that they may sell some of their $67 billion Bitcoin holdings to enhance the company’s capital structure or improve the 'Bitcoin per share' metric. This marks a significant shift from their previous Bitcoin maximalist stance, partly due to financial pressures and a junk level credit rating from S&P Global Ratings.
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| Coinbase laying off hundreds of employees, citing AI advancements Coinbase CEO Brian Armstrong announced that the company is laying off approximately 700 employees, about 14% of its workforce, due to the downturn in the cryptocurrency market and advancements in AI technology. Armstrong emphasized the need for Coinbase to become more efficient and AI-native, intending to focus on AI-native talent and streamline operations with smaller teams.
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| As crypto cools, a16z crypto raises a $2.2B fund a16z crypto has announced the launch of a new $2.2 billion fund aimed at supporting crypto entrepreneurs, bringing their total funds raised to $9.8 billion. The venture capital firm also promoted its CTO, Eddy Lazzarin, to the position of general partner.
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